My credit card is a liability so I pay it like this:

2019/1/1 * Start
Liabilities:CC -500.00 USD
Liabilities:Mortgage -1000000 USD
Assets:Checking 700 USD
Equity:Start

2019/1/2 * Income
Income:Emplyer -1000 USD
Assets:Checking 

2019/1/3 * Paying credit card
Liabilities:CC 300 USD
Assets:Checking 

But then "ledger bal ^Expenses ^Income --invert" 
(https://devhints.io/ledger) doesn't answer the question "how much did I 
spend and earn this month?"

Is this the wrong way to pay the credit card or is the report wrong?  I'm 
on ledger 3.1.1-20160111

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